Veteran financial services group rebrands, eyes home loan scene

by NZ Adviser21 Sep 2016
After 18 years, Grosvenor Financial Services Group in Wellington has had a brand overhaul and is now known as Booster. 

Newly branded Booster is soon set to enter the home loan market, with CEO David Beattie saying they intend to offer a mortgage designed specifically for first home buyers. 

“It is tough getting into your first home,” said Beattie. “It’s also tough as a parent if you want to help out while still saving for your retirement. We have designed something to help.’

“At Booster we are strong advocates for quality financial advice. After 18 years working with independent advisers we have seen the difference it makes.” 

Beattie said the new home loan product will fit this philosophy with Booster encouraging home buyers to work with a professional who can help them set up their full financial picture not just take out a loan.

Majority-owned and operated by its management team, Beattie said the name change signaled a continuation of Booster’s work in increasing financial understanding for New Zealanders. 

“We want to take that to the next level but to do that we need a name that you can connect with. Too many people couldn’t pronounce our name before!”

The rebrand was announced alongside Booster’s announcement to their KiwiSaver members that the benefits they receive will be growing. 

For the default fund, Booster member fees are waived until savings reach $10,000. Beattie said another of its unique features is free accidental death benefit cover. Previously members could receive $10,000. It is now increasing to up to $50,000.

“We think it’s important to do these things that actually make a difference for people. We aren’t a big Aussie institution here just to make money and take profits off-shore. 

“We are proud to be a New Zealand player in an industry that sadly seems to be dominated by those that don’t have a deep connection to this place.”

Booster also manages investments and superannuation, looking after $2b for more than 100,000 people. 

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